Last Orders: ASX ends 5 day winning streak but still above 7,000

The ASX 200 has finished the day in the red but is still above 7,000 points.

The ASX 200 shed 0.68 per cent closing at 7,018 points while the ASX Emerging Companied Index fell 0.33 per cent, closing at 2,101 points.

All sectors were in the red with the exemption of telcos which rose 0.29 per cent. The biggest laggards are healthcare and energy which both fell over 1 per cent.

The top stock with news was energy microcap Xstate (ASX:XST), which reported flow testing update at Borba well in California would start this week.

But flying higher was vanadium-titanium explorer Audalia Resources (ASX:ACP) off the back of no news.

Microcap stock Merchant House (ASX:MHI) was due to exit a trading halt pending a clarification to Friday’s announcement about its US$20 million factory sale which saw its shares nearly triple.

ANNOUNCEMENTS

BNPL stock Laybuy (ASX:LBY) unveiled its quarterly business update. Its Annualised Gross Merchandise Value (GMV) rose 129 per cent to NZ$645 million and its revenue was up 105 per cent to NZ$9.8 million.

Lotus Resources (ASX:LOT) is parting ways with its Hylea Cobalt project. It is selling it for $2.5 million to Sunrise Energy Metals (ASX:SRL) 2 years since it pivoted into uranium.

Lefroy Resources (ASX:LEX) has commenced a diamond drilling program at its Burns prospect in WA. The program’s focus is to expand and advance the copper-gold mineralisation that has sent the company’s shares flying in 2021.

Factor Therapeutics (ASX:FTT) is trying again for a new lease at life. It signed a non-binding term sheet with a US company (PowerLime) that holds a calcium limestone project in South Georgia, USA.

Cannabis high flier Australian Primary Hemp (ASX:APH) signed another distribution deal with Coles. The agreement will see five extra Mt Elephant hemp protein bars sold in Coles and is expected to generate $3 million per annum commencing in July.

European Lithium (ASX:EUR) provided an update on its drilling program at its Wolfsberg lithium project. The company reports it will be completed by the end of July and has managed higher than average drill speeds and very good core recovery.